AWEX reported that the strongest buying focus was on good style merino fleece wools 18 micron and finer.
While the market for the finer types ended in positive territory, support waned as the sale progressed, particularly for broader types.
The Eastern Market Indicator (EMI) improved 3ȼ for the week to close at 1,392ȼ. The Australian dollar was easier with the US/Au rate quoted at US$0.723. This resulted in the EMI in US dollar terms pulling back 5ȼ to settle at 1006ȼ.
The Western Market Indicator also retreated 3ȼ to finish the week at 1436ȼ, with WA selling 8,536 bales of the 9,641 offered.
Sydney benefited from the gains made in Melbourne on the final day of last week’s sales catching up to the Melbourne rates. The strongest gains were in the finer Merino fleece wools, with the largest gains made on the sub 17.0 micron wools. In Melbourne the 16.5 MPG lifted by 71ȼ & 67ȼ in Sydney, however the weaker support for 19 MPG and broader saw these types softer by 10ȼ to 20ȼ.
Crossbred wools were the poorest performers ending cheaper giving up 20 to 30ȼ, however Cardings were generally firm to dearer. Sydney cardings lifted 11ȼ, Melbourne gained 3ȼ while Fremantle was 27ȼ stronger.
The national offering increased by 2,517 bales, with 43,739 bales offered. The national pass-in rate rose to 10.5% which resulted in 41,385 bales sold, just 827 bales more than the last sale.
On Mecardo this week (view article here), Andrew Woods looked at the cost of shearing a sheep compared to the price of beer over time. Limited availability of shearers has allowed the shearing rate to increase, beyond award levels, helping to close to the gap to beer prices which had widened out during the past three decades. It is hard to entice people into the industry if they have trouble buying a beer!!
The week ahead….
Next week another large offering is rostered with 46,490 bales listed with all centres selling on Tuesday & Thursday with Wednesday the Australia Day holiday.
The wool market moderated this week after its recent rally, with the Eastern Market Indicator (EMI) easing 5 cents to 1,245 cents. The other indicators
The Australian wool market posted its fourth consecutive weekly gain, with the EMI adding 8¢ to close at 1,250¢/kg. Strong demand in the Northern market
Premiums for RWS-accredited wool have been increasing this season, which is a welcome change after a lacklustre run through 2023 and 2024. This article takes
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Join the Mecardo team for the Commodity Conversations podcast, where we provide short weekly market recaps and longer conversations with guests to discuss the drivers and trends in livestock, grain and fibre markets.
Our team of market analysts are recognised as leaders in Australian Ag market analysis, providing invaluable insights to help you navigate the ever-changing commodity landscape.
We don’t just bring you the most up to date market insights. Find out more about Mecardo’s services including risk management advisory, modelling, benchmarking, research & consultancy.
Fine wool carries the market
The Eastern Market Indicator (EMI) improved 3ȼ for the week to close at 1,392ȼ. The Australian dollar was easier with the US/Au rate quoted at US$0.723. This resulted in the EMI in US dollar terms pulling back 5ȼ to settle at 1006ȼ.
The Western Market Indicator also retreated 3ȼ to finish the week at 1436ȼ, with WA selling 8,536 bales of the 9,641 offered.
Sydney benefited from the gains made in Melbourne on the final day of last week’s sales catching up to the Melbourne rates. The strongest gains were in the finer Merino fleece wools, with the largest gains made on the sub 17.0 micron wools. In Melbourne the 16.5 MPG lifted by 71ȼ & 67ȼ in Sydney, however the weaker support for 19 MPG and broader saw these types softer by 10ȼ to 20ȼ.
Crossbred wools were the poorest performers ending cheaper giving up 20 to 30ȼ, however Cardings were generally firm to dearer. Sydney cardings lifted 11ȼ, Melbourne gained 3ȼ while Fremantle was 27ȼ stronger.
The national offering increased by 2,517 bales, with 43,739 bales offered. The national pass-in rate rose to 10.5% which resulted in 41,385 bales sold, just 827 bales more than the last sale.
On Mecardo this week (view article here), Andrew Woods looked at the cost of shearing a sheep compared to the price of beer over time. Limited availability of shearers has allowed the shearing rate to increase, beyond award levels, helping to close to the gap to beer prices which had widened out during the past three decades. It is hard to entice people into the industry if they have trouble buying a beer!!
The week ahead….
Next week another large offering is rostered with 46,490 bales listed with all centres selling on Tuesday & Thursday with Wednesday the Australia Day holiday.
Have any questions or comments?
Click on graph to expand
Click on graph to expand
Click on graph to expand
Data sources: AWEX, Mecardo
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Independent analysis and outlook for wool, livestock and grain markets delivered to you as it’s published
Listen to the podcast
Join the Mecardo team for the Commodity Conversations podcast, where we provide short weekly market recaps and longer conversations with guests to discuss the drivers and trends in livestock, grain and fibre markets.
MEET THE TEAM
Our team of market analysts are recognised as leaders in Australian Ag market analysis, providing invaluable insights to help you navigate the ever-changing commodity landscape.
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We don’t just bring you the most up to date market insights. Find out more about Mecardo’s services including risk management advisory, modelling, benchmarking, research & consultancy.